Ghana Cedi records marginal appreciation against dollar after weeks of continuous fall

After several weeks of incessant fall, the Ghana cedi has started recording some marginal appreciation against the dollar on the market. 

Checks on the market show that on Thursday, March 14 the Ghana Cedi did appreciate against the dollar by some 5 per cent to trade at around GH¢5.60 compared to about GH¢5.90 last Tuesday and Wednesday. 

The local currency again went up marginally on Friday, March 15, 2019 closing at around GH¢5.56

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Meanwhile, Economist and consultant Dr. John Kwakye has stated that Ghana’s planned exit from the International Monetary Fund (IMF) programme next month has created uncertainties among some investors, contributing to the fall of the Ghana Cedi against the dollar.

According to him, some investors who are willing to bring their funds into the country are uncertain of how events will turn out in the country after an Extended Credit Facility programme with the IMF ends in April.